An EIN (Employer Identification Number) is a unique number that the IRS (Internal Revenue Service) assigns to your business. You may need an EIN for a variety of reasons, such as to open a bank account in your business name, to hire new employees and to incorporate your business. The IRS has a web-based EIN tool that allows you to apply for a number online. By using this tool, you can receive an EIN assigned by the IRS in a matter of minutes as opposed to weeks when submitting your form via postal mail.

Go to the IRS website (irs.gov) and click the “Businesses” tab located on the top left-hand side of the page.

Click the “Employer ID Numbers” link on the left side panel.

Click the page link labeled “Apply for an EIN Online.”

Scroll to the bottom of the page. Select the option to “Apply Online Now.”

Click the “Begin Application” button.

Complete the online EIN application form by entering the requested information. You will need to specify the type of business you are operating, why you are requesting an EIN, business name, business address, and the business owner's name, social security number and contact information.

Select the method in which you would like to receive your official EIN letter from the IRS. You can choose to receive the letter online as a downloadable document or you can request the IRS mail the EIN letter to you. The mailing method can take up to 4 weeks for you to receive.

Click the “Submit” option once you have verified that all of the information appearing on the application is correct.

Write down your EIN number. You can begin using your EIN number instantly for business purposes. However, some companies, such as financial institutions, will require an official copy of the EIN letter to open an account.